S. 4879Senate117th Congress (2021-2023)In Committee

Expanding Financial Access for Underserved Communities Act

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Updated February 8, 2026 at 5:37 PM UTC

The Expanding Financial Access for Underserved Communities Act amends the Federal Credit Union Act to let federal credit unions expand their field of membership to include designated underserved areas. It requires credit unions that add such areas to submit a business and marketing plan and to report on membership and services within two years. The bill also defines what qualifies as an underserved area and permits member business lending to borrowers in those areas. The National Credit Union Administration must report on the law’s implementation.

Key Provisions

Allows a credit union’s board to add an underserved area to its field of membership after determining the area meets the new definition, and requires the credit union to file a business and marketing plan with the application.
Requires the credit union to submit a report within two years of approval detailing new members, services used, plan implementation, and financial‑education programs.
Adds a new definition of “underserved area” based on census tracts or counties that are investment areas, low‑income communities, or more than 10 miles from the nearest bank or credit‑union branch.
Amends member business lending rules so loans to members or associated borrowers located in underserved areas are expressly permitted.
Mandates the National Credit Union Administration to issue an initial implementation report one year after two years from enactment and a follow‑up report five years later.
Clarifies that the act does not restrict banks or other insured depository institutions from opening branches in underserved areas.

Legislative Activity

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1 earlier action

SenateIntro Referral Latest Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S4823)

Banking, Housing, and Urban Affairs Committee

September 19, 2022

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SenateIntro Referral

Introduced in Senate

September 19, 2022

SenateIntro Referral

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S4823)

Banking, Housing, and Urban Affairs Committee

September 19, 2022

Floor Debate

2 members

What members said about S. 4879 on the floor

2 Democrats

Sen. Mazie K. HironoD-HI · Sep 19, 2022

Mr. President, I rise today to introduce a bill, the Continued Rapid Ohia Death Response Act of 2022. This bill requires the Secretary of the Interior to continue partnering and collaborating with…

Mr. President, I rise today to introduce a bill, the Continued Rapid Ohia Death Response Act of 2022. This bill requires the Secretary of the Interior to continue partnering and collaborating with the Secretary of Agriculture and the State of Hawaii to address Rapid Ohia Death, ROD. ROD is a fungus, Ceratocystis, that was first found in Hawaii in 2014 and has since killed over a million native Ohia trees. Since then, the U.S. Department of Agriculture's Forest Service has partnered with the State of Hawaii and the U.S. Department of the Interior in efforts to detect and respond to the spread of ROD. Sustained efforts, such as those supported by this bill, are necessary to protect Ohia trees, which comprise 80 percent of Hawaii's native forests.

Over the past 8 years, ROD has been detected on Hawaii Island, Kauai, Maui, and Oahu. Efforts are currently underway to educate the public to reduce the spread, research transmission vectors of ROD such as humans, beetles, ungulates, and weather events, and test ROD resistant varieties of Ohia. This bill directs the Secretary of the Interior, acting through the U.S. Geological Survey, to continue providing resources for the purposes of researching ROD vectors and transmission. It also requires the Secretary of the Interior, acting through the U.S. Fish and Wildlife Service, to work with the State of Hawaii and other local stakeholders on ungulate management in control areas on Federal, State, and private land. Finally, the bill requires the Secretary of Agriculture, acting through the Chief of the U.S. Forest Service, to continue providing resources to prevent the spread of ROD and restore the native forests in Hawaii and to also continue to provide financial and staff resources to the Institute of Pacific Islands Forestry, IPIF, located in Hilo, to continue research on ROD.

The bill authorizes $5 million in appropriations for each fiscal year from 2023 through 2033 for both the Secretaries of Agriculture and Interior to carry out these actions, which are necessary to protect and restore Hawaii's most abundant native tree--Ohia--for future generations.

Mr. President, I rise today to introduce a bill, the Natural Infrastructure Act of 2022. This bill requires the Secretary of the Interior, in coordination with the Secretary of Agriculture, to establish a Joint Natural Infrastructure Science Program. This program, which would be a joint effort by the U.S. Forest Service FS and the U.S. Geological Survey USGS, would

seek to further research on the use of natural solutions to address evolving infrastructure needs across the country. The bill also requires the Secretary of the Interior to assess the costs and effectiveness of select natural infrastructure projects on an annual basis.

The bill defines natural infrastructure as constructed landscape features and systems that employ nature-based solutions that promote, use, restore, or emulate natural ecological processes. These features, when compared to grey infrastructure solutions, are often more cost- effective, increase community resilience to climate change impacts, and attract community support. The American Society of Civil Engineers estimates that our country's need for infrastructure repairs through 2025 totals over $4 trillion. In order to meet our country's short- and long-term infrastructure needs, research is needed to inform the decisions being made by the people charged with addressing these infrastructure needs--civil engineers, local governments, developers, and the construction industry. The Joint Natural Infrastructure Science Program established by this bill directs USGS and FS to work with colleges and universities to advance ongoing natural infrastructure research efforts to inform future infrastructure projects. The bill also establishes a stakeholder advisory group to inform the Secretary of the Interior on appropriate research topics to be assessed by the Joint Natural Infrastructure Science Program.

The bill authorizes $4 million in appropriations for each fiscal year from 2023 through 2033 for both the Secretaries of Agriculture and Interior to implement the Joint Natural Infrastructure Program. Additionally, the bill requires the Secretary of the Interior to publish an annual report on no fewer than 30 natural infrastructure projects across the country to assess the cost and effectiveness of the projects as well as provide recommendations on ways to improve future natural infrastructure projects in terms of construction, costs, and effectiveness. The selected projects should be diverse in terms of both geographic location as well as project type. These reports, coupled with the research generated by the Joint Natural Infrastructure Science Program, will help inform future infrastructure projects as we seek out cost-effective solutions all across the country that maximize human and environmental benefits in the face of evolving challenges, including the increasing impacts of climate change.

Sen. Alex PadillaD-CA · Sep 19, 2022

Mr. President, I rise to speak in support of the Expanding Financial Access for Underserved Communities Act, which I introduced today. Over the past decade, affordable banking services have become…

Sen. Alex PadillaD-CA · Sep 19, 2022

Mr. President, I rise to speak in support of the Expanding Financial Access for Underserved Communities Act, which I introduced today. Over the past decade, affordable banking services have become…

Bill Text

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Introduced in SenateIssued September 19, 2022

117th CONGRESS

2d Session

S. 4879

IN THE SENATE OF THE UNITED STATES

September 19, 2022

Mr. Padilla introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To amend the Federal Credit Union Act to permit credit unions to serve certain underserved areas, and for other purposes.

Short title

This Act may be cited as the Expanding Financial Access for Underserved Communities Act.

Credit union service to underserved areas

Section 109 of the Federal Credit Union Act (12 U.S.C. 1759) is amended—

(1)

in subsection (c)(2)—

(A)

by striking the field of membership category of which is described in subsection (b)(2),;

(B)

by amending subparagraph (A) to read as follows:

(A)

the Board determines that the local community, neighborhood, or rural district is an underserved area; and

; and

(C)

in subparagraph (B), by inserting not later than 2 years after having such underserved area added to the credit union’s charter, before the credit union; and

(2)

by adding at the end the following:

(h)

Change of field of membership To include underserved areas

(1)

In general

If an existing Federal credit union applies to the Board to alter or expand the field of membership of the credit union to serve an underserved area, the credit union shall submit a business and marketing plan with such application that explains the ability and intent of the credit union to serve the population of the underserved area through the change in field of membership.

(2)

Report by credit union

Not later than 2 years after the date on which an application described under paragraph (1) is approved, the credit union, as part of the ordinary course of the examination cycle and supervision process, shall submit a report to the Administration that includes—

(A)

an estimate of the number of members of the credit union who are members by reason of the application, including breakdowns by each State (including the District of Columbia and each territory of the United States), Tribal government entity, and congressional district;

(B)

a description of the types of financial services utilized by members of the credit union who are members by reason of the application;

(C)

an update of the implementation of the credit union of the business and marketing plan described under paragraph (1); and

(D)

a description of the types of financial education programs made available to members of the credit union, including those who are members by reason of the application and those in rural areas, where applicable.

Member business lending in underserved areas

Section 107A(c)(1)(B) of the Federal Credit Union Act (12 U.S.C. 1757a(c)(1)(B)) is amended—

(1)

in clause (iv), by striking or at the end;

(2)

in clause (v), by striking the period and inserting ; or; and

(3)

by adding at the end the following:

(vi)

that is made to a member or associated borrower that lives in or operates in an underserved area.

Underserved area defined

Section 101 of the Federal Credit Union Act (12 U.S.C. 1752) is amended—

(1)

in paragraph (8), by striking ; and and inserting a period;

(2)

in paragraph (9), by striking the period at the end and inserting ; and; and

(3)

by adding at the end the following:

(10)

the term underserved area means a geographic area consisting of 1 or more population census tracts or 1 or more counties, that encompass or are located within—

(A)

an investment area, as defined in section 103(16) of the Community Development Banking and Financial Institutions Act of 1994 (12 U.S.C. 4702(16));

(B)

groups of contiguous census tracts in which at least 85 percent individually qualify as low-income communities, as defined in section 45D(e) of the Internal Revenue Code of 1986; or

(C)

an area that is more than 10 miles, as measured from each point along the perimeter of the area, from the nearest branch of a depository institution, as defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813) or credit union.

Reports by the National Credit Union Administration

(a)

Initial report

During the 1-year period beginning on the date that is 2 years after the date of enactment of this Act, the National Credit Union Administration shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report on the implementation of the amendments made by this Act.

(b)

Update

On the date that is 5 years after the date on which the report required under subsection (a) is submitted, the National Credit Union Administration shall submit to the committees described that subsection an updated report.

Rule of construction

Nothing in this Act or the amendments made by this Act may be construed to prevent or otherwise impede the ability of insured depository institutions, as defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813) to establish branches and provide banking services in underserved areas.